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2016 (3) TMI 1235 - AT - Income TaxAssessment u/s 153A validity - Held that:- The assessments in the case of all of these assessees were either completed or the time for issuance of notices under S.143(2) had already lapsed by the date of search. Also there was no material whatsoever found during the course of search relating to any of the assessees herein and therefore, it can safely be concluded that there was no incriminating material was found relating to the assessee's for the relevant assessment years during the course of search. It has been held in various cases that unless and until there is incriminating material relating to the assessee found during the course of search, there cannot be any assessment under S.143(3) read with S.153A, as far as the concluded assessments are concerned. Learned counsel for the assessee has successfully demonstrated before us that in all these cases, either assessments were completed or the due date for the issuance of notice under S.143(2) has lapsed prior to the date of search. Therefore, we quash the impugned assessments made under S.143(3) read with S.153A - Decided in favour of assessee.
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